Economic city to generate real estate boom in Medak district
India is a potential investment centre and many countries view this as a golden opportunity to spread their business, particularly in the real estate industry. In the current situation, industrial investments in India have been deferred but not withdrawn. The situation in real estate industry could improve dramatically as India is a preferred destination for large foreign direct investment such as Ras Al Khaima Authority (RAKIA) which recently asked for 2000 acres land for their economic city project. This will cause an escalation in land prices and we can a expect real estate boom in Medak district in the near future. The proposal of Hyderabad Economic City (HEC) will transform Medak considerably. Ras Al Khaima Authority (RAKIA), and APIIC signed a memorandum of understanding in September last for the development of HEC with a proposed investment of Rs 20,000 crore. The Andhra Pradesh government recently allotted 471 acres of land at Sultanpur village of Medak district for the first p...